Growth from Fox's movie and television studio was a major contributor. The studio produced the blockbuster hit "X-Men: Days of Future Past," which was released in May and has grossed $740 million worldwide so far. The movies "Rio 2" and "The Fault in Our Stars" also fared well.

In a statement, Murdoch also credited growth at cable networks -- including FX, Fox News and Fox Sports 1 -- for the strong quarter.

A deal would have combined Fox's media brands with Time Warner cable networks like TBS, TNT and premium network HBO, as well as the Warner Brothers movie studio. CNN, including this website, would have been sold.

Speaking on the earnings call with Wall Street analysts and investors, Murdoch and Carey had to walk a fine line, detailing why they were interested in acquiring Time Warner while insisting that they don't need Time Warner and won't pursue it in the future.

"We viewed it as a unique opportunity with clear strategic benefits," Murdoch said. "However, the refusal of Time Warner's management and board to engage with us, to explore this compelling offer, coupled with the reaction in our share price that undervalued our stock, resulted in our conclusion that this transaction was no longer attractive for Fox shareholders."

Carey added that the takeover bid came "out of opportunity, not out of necessity or defensive concerns."